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Invesco S&P 500 BuyWrite ETF

PBP tracks an index that uses a covered-call strategy to provide long exposure to the S&P 500 and selling call options thereon.

Invesco

Invesco China Technology ETF

Invesco AAA CLO Floating Rate Note ETF

Invesco Raymond James SB-1 Equity ETF

PBP, CQQQ and RYJ to reduce fees; fee waiver extended for ICLO ATLANTA , Jan. 4, 2024 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, has announced that it will implement changes to four ETFs, as further outlined below.

Invesco Announces Changes to Four ETFs

Global X S&P 500 Covered Call ETF

The CBOE S&P 500 2% OTM BuyWrite Index is a covered call strategy that writes call options 2% out of the money. The BXY index has averaged an annual return of 9.91% since June 1988. There is no investable instrument that uses the BXY strategy, but the Invesco S&P 500 BuyWrite ETF is a promising alternative.

Searching For A Viable Covered Call ETF Alternative To XYLD

The Invesco S&P 500 BuyWrite ETF invests in public equity markets in the US, using a long/short strategy and derivatives such as options to create its portfolio. The ETF tracks the performance of the CBOE S&P 500 BuyWrite Index, investing in growth and value stocks of large-cap companies, and started in 2007. I give the PBP ETF a Strong Sell as there are better choices available. Three are compared against PBP in terms of yield and return.

PBP: A Buy-Write Fund With 1% Yield

For investors seeking momentum, Invesco S&P 500 BuyWrite ETF PBP is probably on the radar. The fund just hit a 52-week high and is up 18.6% from its 52-week low price of $18.56/share.

Buy-Write ETF (PBP) Hits New 52-Week High

Invesco S&P 500 BuyWrite ETF is a buy-write fund in the ETF format. The vehicle is closely tracking the S&P 500 performance this year.

PBP: BuyWrite ETF Closely Matching The S&P 500 This Year

Innovator S&P 500 Buffer ETF - August

Innovator S&P 500 Buffer ETF - July

Innovator S&P 500 Buffer ETF June

Innovator S&P 500 Buffer ETF - October

Global X S&P 500 Catholic Values ETF

SPDR S&P 500 ESG ETF

WisdomTree U.S. Earnings 500 Fund

First Trust Large Cap Value AlphaDEX Fund

Direxion Daily S&P 500 High Beta Bull 3X Shares

Direxion Daily S&P 500 High Beta Bear 3X Shares

iShares S&P 500 Value ETF

iShares Core S&P 500 ETF

iShares S&P 500 Growth ETF

CBOE Vest S&P 500 Dividend Aristocrats Target Income ETF

ProShares S&P 500 Dividend Aristocrats ETF

Qraft AI-Enhanced US Next Value ETF

Innovator S&P 500 Power Buffer ETF - August

Innovator S&P 500 Power Buffer ETF - January

Innovator S&P 500 Power Buffer ETF June

WisdomTree CBOE S&P 500 PutWrite Strategy Fund

Global X S&P 500 Quality Dividend ETF

Invesco S&P 500 Pure Growth ETF

Invesco S&P 500 Pure Value ETF

Invesco S&P 500 Equal Weight ETF

Once upon a time, dividends played a starring role in equity markets—until 14 years of easy money whetted investors' appetite for risk and created a massive tailwind for unprofitable, long-duration growth stocks. Valuations appear to be attractive: Stocks yielding north of 2.5% are trading near their largest discount to the equity market in recent memory.

Good Fishing In The Dividend Stream

The S&P 500 Index has rebounded sharply off its previous low in October, closing up 14% on Feb. 17 since October's trough. The market could continue to rally, of course.

Oversold-Overbought Watch: S&P 500 Index - February 21, 2023

For decades, brokers, advisors, and more recently, ETF providers have touted "covered call writing" as an investment strategy. In many cases, such as with PBP, the attraction of a "higher yield" is offset by a simple fact: these ETFs don't add enough value to merit owning them.

PBP: As With Many Covered Call ETFs, The Sales Pitch Exceeds The Value

The Invesco S&P 500 BuyWrite ETF has failed to impress, as I believed would be the case in my most recent article. The problem is that PBP gives up a chunk of the upside opportunity by selling calls, while still assuming the downside risk of stock ownership.

Invesco S&P 500 BuyWrite ETF: Disappointing, As Expected

iShares 7-10 Year Treasury Bond ETF

iShares MSCI USA Quality Factor ETF

Simplify US Equity PLUS Downside Convexity ETF

iShares Edge MSCI Min Vol USA ETF

FT Cboe Vest Fund of Buffer ETF

Defensive & Diversifying Strategies In 2022

The Invesco S&P 500 BuyWrite ETF owns the S&P 500 components and writes calls to earn option premium.

PBP: Heads You Lose, Tails You Don't Win

Amplify CWP Dividend & Option Income ETF

In searching for income, I researched the five largest S&P 500 covered call ETFs. The dividend yields of the five funds ranged from 1.09% to 9.85%.

Search For Income: S&P 500 Covered Call ETFs

Aptus Collared Income Opportunity ETF

Overlay Shares Large Cap Equity ETF

Global X NASDAQ 100 Covered Call ETF

These products seem appropriate for investors seeking high levels of income and a hedged exposure to large-cap U.S. equities.

5 Buy-Write ETFs to Consider Amid Market Turbulence

Eaton Vance Risk-Managed Diversified Equity Income Fund

SPDR S&P 500 ETF Trust

The current market environment of sharply rallying stock prices and high volatility is relatively unusual and potentially conducive to covered call strategies.

The Premise And Reality Of Covered Call CEFs

Vanguard Dividend Appreciation ETF

October returns haven't been as bad as some of the media have made it out to be - it's skewed to the downside by a few terrible months.

The October Spook: What It Means For The Market And Your Portfolio

News for Invesco S&P 500 BuyWrite ETF ETF (PBP)